EX-12 2 f06302016exhibit12.htm EXHIBIT 12 Exhibit


Exhibit 12


FORD MOTOR COMPANY AND SUBSIDIARIES
CALCULATION OF RATIO OF EARNINGS TO FIXED CHARGES
(in millions)

 
First Half
2016
Earnings
 
Income before income taxes
$
6,526

Add/(Deduct):
 
Equity in net income of affiliated companies
(939
)
Dividends from affiliated companies
827

Fixed charges excluding capitalized interest
1,848

Amortization of capitalized interest
19

Earnings
$
8,281

 
 
Fixed Charges
 
Interest expense
$
1,770

Interest portion of rental expense (a)
78

Capitalized interest
15

Total fixed charges
$
1,863

 
 
Ratios
 
Ratio of earnings to fixed charges
4.4

__________
(a) One-third of all rental expense is deemed to be interest.